NEM (XEM) Price Gains Above 8% Following An Uptrend

At present, according to NEM (XEM) traded up to 9.12% against the U.S. dollar. XEM has a total market capitalization of $ 452.02 M and approximately $29.92 million worth of NEM was traded on exchanges in the last 24 hours. One XEM coin is now worth of $ 0.05022 on exchanges including Liquid, COSS, BTC-Alpha, and Cryptopia.

Although, the coin was hindered at the beginning of the year between financial struggles of the project, NEM is now the 20th largest coin.

Recently, NEM team has decided to re-structure its organisation that allows overcoming restructure and support further development. However, the plan is accepted by the community, even though some tough decisions made by the team including staff reduction.

Also, the project secured financing in the amount of $8M and approved the release of 210M XEM tokens from reserves. Moreover, this move is supposed to fund the operations of the team from February 2020.

NEM Foundation president Mr. Alexandra Tinsman, said that :

I think this is a vote of confidence that the industry is moving forward and that we are ready to pivot to a very new way of working. It’s in the best interest of the companies to be fiscally responsible with the platform, there products and there teams. We need to be product-focussed and that’s what we have done. This is a sign of good things to come.

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